Egypt private sector construction, building activity rose 41.7% in 2016: CAPMAS

The construction and building works implemented by Egypt’s private sector firms rose 41.7 percent, reaching 56.4 billion Egyptian pounds ($3.1 billion) in 2016, said the county’s state statics agency CAMPAS on Monday.

Construction and building activity stood at 39.8 billion pounds during 2015.

“The increase is due to the growing trend to modernise infrastructure in the country, notably in the sectors of electricity, road, and residential buildings,” CAMPAS’ annual bulletin showed.

As for the residential buildings, the private firms executed works worth 12.6 billion pounds in 2016 from 8.9 billion pounds a year earlier, with a 40.5 percent increase.

The firms made a 26.1 percent surge in number of industrial buildings to reach 1.7 billion pounds, compared to 1.3 billion pounds.

“The companies implemented educational buildings of around 903 million pounds against 933 million pounds, marking a 3.2 percent decline,” CAMPAS noted.

The total value of electricity grid works jumped by 39.4 percent to 7.7 billion pounds last year versus 5.5 billion pounds a year earlier.

“The firms executed road works worth 4.3 billion pounds against 3.2 billion pounds, with a 33.6 percent surge,” the agency referred, saying that works of drinking water plants and networks fell 6.0 percent to record 648 percent from 648 million pounds.